Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on your understanding of investment returns, complete the following sentence: If the amount to be received at the end of the investment period is

Based on your understanding of investment returns, complete the following sentence:
If the amount to be received at the end of the investment period is the amount invested, the investment is said to have a positive investment return.
You gave $770 to your cousin. As a token of gratitude, your cousin gave you $1,190 at the end of the year instead of $770. If you look at this as an investment, what is your annual rate of return?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Asset Allocation And International Investments

Authors: G. Gregoriou

1st Edition

023001917X,0230626513

More Books

Students also viewed these Finance questions

Question

1. Do you agree with what is stated in this box?

Answered: 1 week ago

Question

What are the objectives and scope of all the accounting standards?

Answered: 1 week ago